Choosing the Best Place to Retire: 9 Factors to Consider

Choosing the Best Place to Retire: 9 Factors to Consider

Couple using laptop computer to research the best place to retire.

You’ve had an empty nest for a while now and you can finally see your golden years coming into focus.

If your current home and lifestyle are not what you envision when your daily life shifts into retirement mode, it’s a good idea to start doing your research now into the best place to retire that will fit your needs.

We’ve rounded up nine important factors to consider as you make decisions about this long-awaited stage of life.

1. The cost of living. While retirement communities will give you the basic costs, don’t forget the others that can affect your budget: homeowners insurance, state income tax brackets, and sales taxes. Estate and inheritance taxes will also vary by state. It’s a good idea to meet with a tax advisor and an estate planning expert as you’re doing your research.

2. Demographics. Knowing the community that you will be moving into is key. You want to make sure that you are going to be able to find like-minded people to spend time with. While the U.S. Census Bureau has data you can explore, your best bet is to talk with people who live in that area to get a pulse on the environment and other variables that are important to you.

3. Availability of health care. You may not be concerned about your proximity to hospitals and doctors right now if you’re healthy and active. But knowing what’s available for future years could save you the hassle of moving again as you get older and may require specialized services.

4. Distance to family. How close or how far do you want to be from your children and grandchildren? If you cannot afford to travel to see them often, a retirement community close to them might put certain areas higher on your priority list. If you do plan to travel to see them often, living in an area with proximity to an airport should be a consideration in your search for the best place to retire.

5. Housing types. Today’s retirement living options have expanded dramatically over the years. From single-family homes to condos and townhouses, and even apartment living, the choices are endless—and can be overwhelming. Whether you prefer to live independently, utilize some assisted services, or need more complex care, Life Plan communities like Meth-Wick that provide a continuum of care should be at the top of your list.

6. Planned senior communities vs. all-ages communities. This determines the type of social interactions you have within the community. If you are looking to move somewhere new, one of the advantages of a planned retirement community is that wellness and social opportunities are planned for you and allow you to meet new people much easier.

7. Home accommodations as you age. Are you able to live in a single-family home with stairs 20 years from now? If you need a wheelchair down the road, will your new home be able to accommodate you? Remember that planning for retirement is just that, a plan. Don’t forget to look towards the future and what could happen, as you are making long-term decisions.

8. Transportation options. It may seem minor, but researching transportation options now can save you a headache down the road. Determine the types of transportation that are available in the area for business, personal and social needs. Could you easily get to the grocery store and pharmacy now, as well as in the future should your mobility change? Many retirement communities understand their independent living residents will not need day-to-day transportation but make it available for residents when they no longer want to drive.

9. Future moves. Retirement communities like Meth-Wick that offer a continuum of services, provide a clear path for your living options all on one campus. If you have to move from a home to an apartment style of living, you can still stay in the same community, and you will not have to start the research process over again.

Finally, as you’ve collected your information and begun to whittle down your top choices for the best place to retire, be sure and take those lists of top retirement spots listed in national publications with a grain of salt. Don’t lose your own criteria in the excitement and choose a retirement community that feels right for you.

One comment

Comments are closed.